DE30: European markets on a sizable upswing

• Old Continent on upward wave

• Water levels on the Rhine River are returning to normal levels

Tuesday's session on markets from the Old Continent brings a bullish turn in investor sentiment. The DE30 is back above 12,500 points, and other stock markets are following suit. The mood around Credit Suisse Bank (CSGN.CH) has also improved, with the financial institution's shares gaining more than 4.5% today. The macro calendar for today is relatively empty, and investors' attention is focused on US durable goods orders data. PPI inflation in the eurozone came in almost identical to analysts' expectations.

Source: eurostat
 

The swaps market is currently pricing in a nearly 71% chance of a 75bp rate hike at the ECB's October meeting. Source: Bloomberg
 

DE30 index chart, D1 interval. The benchmark German blue chips are posting sizable gains today and have broken above the 12,500-point barrier. Source: xStation 5

Tuesday's German market session brings higher valuations for most economic sectors. Source: Bloomberg

News:

• Water levels on the Rhine River have risen to standard levels after recent rains, allowing full loading of shipping vessels, Reuters reported, citing local carriers and traders focused on the commodities market.

• The European Commission has approved a €134 million ($130.80 million) support program to help BASF (BAS.DE) produce renewable hydrogen to help decarbonize its chemical production processes. The company's shares are currently trading up more than 3.55%.

Bank recommendations:

• Deutsche Bank cut its target price for Siemens AG (ENR.DE) shares to €145 from €160.

The largest percentage changes of companies included in the DAX index. Source: Bloomberg